Homework Help: Algebra 2

Posted by Chelsea on Thursday, August 25, 2011 at 1:34pm.

John is to receive $1000 at the end of each year for 5 years. If he invests each year’s payment at 8% annually, how much will he have at the end of 5 years?

Algebra 2 - Reiny, Thursday, August 25, 2011 at 1:42pm
amount = 1000 [ 1.08^5 - 1 ]/.08
= ...

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